Novonor
Novonor, formerly Odebrecht, is a Brazilian diversified industrial group with historic operations in engineering, construction, infrastructure, energy, oil and gas, chemicals, petrochemicals, real estate, water and agroindustry.
Last updated October 29, 2026
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Overview
Novonor is the corporate identity adopted in December 2020 by the Brazilian group historically known as Odebrecht. The group was founded in Salvador, Bahia, in 1944, when Norberto Odebrecht established the construction business that became Norberto Odebrecht Construtora. From a regional contractor, the organization developed into a diversified industrial and infrastructure group with activities spanning engineering, construction, energy, oil and gas, petrochemicals, chemicals, water and sanitation, real estate, transport infrastructure, logistics, agroindustry and related investments. The company’s growth accelerated during the late 1970s and early 1980s, when it began expanding beyond Brazil and broadening its business portfolio. In 1980, it merged with the Brazilian contractor CBPO, and in 1981 Odebrecht S.A. was established as a holding structure. The group subsequently used construction and engineering capabilities as a platform for international projects and investments across Latin America, the Caribbean, Africa, Europe and the Middle East. Its principal operating businesses included Construtora Norberto Odebrecht, one of Latin America’s largest engineering and contracting companies, and Braskem, a major Latin American petrochemical producer established in 2002. Other historic businesses included power generation and infrastructure, industrial assembly, oil and gas services, real estate development, water and waste treatment, sugarcane-based ethanol and sugar production, and investment activities in transport, logistics and public infrastructure. The group’s historical expansion was severely damaged by the corruption investigations associated with Operation Car Wash and the broader Odebrecht case. Investigations by Brazilian, United States and other authorities described a long-running system through which intermediaries and company personnel paid illicit amounts to obtain or preserve public contracts and influence contract terms in multiple countries. The United States Department of Justice stated that Odebrecht paid hundreds of millions of dollars in bribes across Latin America and elsewhere. In Brazil, former chief executive Marcelo Odebrecht was arrested in 2015 in connection with the Petrobras investigation and was sentenced in 2016 after pleading guilty to corruption-related offenses. The company and related entities also faced major financial penalties, restrictions on public contracting, reputational damage and the loss or restructuring of businesses. In June 2019, the group sought judicial restructuring in Brazil to address approximately US$13 billion in debt, followed by a Chapter 15 bankruptcy filing in the United States in August of that year. The restructuring reflected the combined effects of investigations, penalties, contract disruption, asset disposals, debt pressure and the deterioration of the group’s operating businesses. In December 2020, the organization changed its name from Odebrecht to Novonor as part of a rebranding and attempted corporate renewal. The new identity was intended to distinguish the reorganized group from the legacy associated with the corruption scandal while retaining selected businesses and capabilities. In 2022, an agreement with Marcelo Odebrecht ended a shareholder and legal dispute and provided for his departure as a shareholder. Novonor’s present profile is therefore best understood as the post-Odebrecht continuation and restructuring of a historically important Brazilian engineering and industrial group, rather than as a wholly new enterprise.
History
Novonor traces its origins to 1944, when Norberto Odebrecht founded a construction company in Salvador, Bahia. The business initially focused on construction and engineering in Brazil, but later developed a model based on technical project execution, infrastructure delivery and expansion into adjacent industries. During the late 1970s and early 1980s, it began internationalizing and diversifying. The 1980 merger with CBPO strengthened its contracting base, and the creation of Odebrecht S.A. in 1981 established a holding structure for the expanding group. Over subsequent decades, the organization entered or expanded in energy, industrial engineering, transport infrastructure, sanitation, oil and gas, real estate, agriculture and petrochemicals. Braskem was established in 2002 and became the group’s principal petrochemical platform and one of Latin America’s largest producers. Odebrecht Agroindustrial, created in 2007, pursued sugarcane-based ethanol, sugar and electricity. Other businesses developed or managed hydroelectric, thermoelectric and nuclear projects; industrial facilities; roads, bridges, airports and transit systems; water and waste-treatment networks; offshore and oilfield services; and residential, commercial and tourism properties. The group’s international construction and investment program reached the Americas, the Caribbean, Africa, Europe and the Middle East. Its project portfolio included transport systems, airports, dams, power plants, sanitation infrastructure, industrial facilities, sports venues and real estate. The organization’s size and public-sector exposure later made it central to investigations into political influence and public procurement. From the mid-2010s, Operation Car Wash and related investigations revealed evidence of an extensive bribery system involving company intermediaries, offshore structures and public contracts. Authorities in Brazil, the United States and other countries investigated payments to officials and political actors. The resulting criminal proceedings, penalties, debarments, contract losses and reputational damage placed severe pressure on the group. The arrest and conviction of Marcelo Odebrecht became one of the most visible episodes in the scandal. In 2019, Odebrecht entered judicial restructuring in Brazil and sought Chapter 15 recognition in the United States. The restructuring followed a collapse in liquidity and substantial debt obligations, with the group attempting to reorganize liabilities and dispose of or reorganize businesses. In December 2020, it adopted the Novonor name. The rebrand represented an effort to establish a new corporate phase while preserving selected operations and addressing the consequences of the prior organization. A 2022 agreement with Marcelo Odebrecht ended his position as a shareholder and resolved a related legal dispute. Novonor consequently represents the reorganized successor identity of the former Odebrecht group, with a history combining major engineering and industrial achievements with one of Latin America’s most consequential corporate corruption scandals.
- 2022
Marcelo Odebrecht ceases to be a shareholder
[1]An agreement ended Marcelo Odebrecht’s shareholder position and a related legal dispute.
- 2020
Rebranded as Novonor
[2]Odebrecht adopted the Novonor name as part of its post-crisis corporate reorganization.
- 2019
Judicial restructuring and Chapter 15 filing
[1]The group entered Brazilian judicial restructuring and subsequently sought Chapter 15 protection in the United States.
- 2016
Major international corruption resolution
[3]Odebrecht and related entities reached a major resolution with United States and Brazilian authorities involving corruption penalties.
- 2015
Marcelo Odebrecht arrested
[1]The former chief executive was arrested in the Petrobras-related Operation Car Wash investigation.
- 2007
Odebrecht Agroindustrial established
[1]The group entered a more formalized sugarcane-based business covering ethanol, sugar and electricity.
- 2002
Braskem established
[1]The group established Braskem, which developed into a major Latin American petrochemical producer.
- 1981
Odebrecht S.A. established
[1]A holding company structure was created as the organization expanded into multiple businesses and markets.
- 1980
CBPO merger
[1]Odebrecht merged with Brazilian contractor CBPO, strengthening its engineering and construction platform.
- 1944
Construction business founded in Salvador
[1]Norberto Odebrecht founded the construction business that became the foundation of the later industrial group.
Products and positioning
A diversified Brazilian engineering, infrastructure and industrial group built around large-scale project delivery and long-term investments, now operating under the Novonor identity after a major restructuring and reputational crisis.
EPC and infrastructure · 1944
Engineering and construction
The group’s historic core was large-scale engineering, procurement and construction. Its contractors delivered infrastructure and industrial projects including roads, bridges, airports, transit systems, dams, sanitation networks, power facilities, sports venues and industrial plants in Brazil and international markets.
Petrochemicals · 2002
Braskem
Braskem became the group’s principal petrochemical platform. Its activities included integrated production of petrochemical feedstocks such as ethane, propane and chlorine, together with second-generation products including thermoplastic resins used by industrial manufacturers.
Energy
Energy infrastructure
Historic energy operations invested in, constructed and managed electricity-sector projects, including hydroelectric, thermoelectric and nuclear facilities, with particular emphasis on Latin American markets.
Oilfield services
Oil and gas
Odebrecht Óleo e Gás combined exploration and production interests with rig operation and integrated services for oil and gas companies.
Utilities and environmental services
Water and sanitation
The group’s water platform provided water-supply and waste-treatment services and participated in sanitation infrastructure projects.
Agroindustry · 2007
Agroindustrial products
Odebrecht Agroindustrial used sugarcane to produce ethanol, sugar and electricity, linking agricultural production with renewable fuel and power generation.
Controversies
2020
Colombian watchdog fines Grupo Aval over bribery scheme
On December 28, 2020, Colombia's industry watchdog imposed a fine on Grupo Aval. The action cited bribery by Grupo Aval's subsidiaries Corficolombiana and Episol, together with Odebrecht, in connection with the Ruta del Sol II project. The event is recorded as a controversy note involving Novonor, formerly known as Odebrecht, in relation to the project.
2017
Offshore-company disclosures
The Paradise Papers reporting identified offshore companies managed for Odebrecht, including entities described in reporting as connected to the movement of illicit payments investigated in Operation Car Wash.
2016
Odebrecht corruption case and Operation Car Wash
Investigations by Brazilian, United States and other authorities described a long-running system of illicit payments used to obtain or maintain public contracts and influence contract negotiations across numerous countries. The case implicated company executives, intermediaries and public officials and produced criminal proceedings, debarments, penalties and extensive reputational damage.
Marketing campaigns
- 2020Novonor rebrand
Brazil · International
The group introduced the Novonor identity after the Odebrecht name became strongly associated with corruption investigations and corporate restructuring.
Outcome. The new name became the group’s principal corporate identity while the organization continued restructuring selected businesses.
Brand decisions
2022
Resolve Marcelo Odebrecht shareholder disputeOtherBackground
The group and Marcelo Odebrecht had been involved in a shareholder and legal dispute since 2020.
Action taken
The parties signed an agreement under which Marcelo Odebrecht ceased to be a shareholder.
Aftermath
The agreement ended the stated legal dispute and removed Marcelo Odebrecht from the shareholder structure.
2020
Adopt the Novonor corporate identityStrategyBackground
The Odebrecht name had become inseparable from the corruption scandal and the group’s restructuring process.
Action taken
The organization changed its name to Novonor and presented the change as part of a new corporate phase.
Aftermath
Novonor became the group’s public-facing identity, while its historical businesses and legal legacy continued to shape the organization.
2019
Seek judicial restructuringOtherBackground
The group faced severe debt pressure and operational disruption following corruption investigations, penalties, contract losses and business restructuring.
Action taken
Odebrecht filed for judicial restructuring in Brazil and later sought recognition of the proceedings under Chapter 15 in the United States.
Aftermath
The proceedings supported a broad reorganization of liabilities and businesses and preceded the group’s renaming as Novonor.
Debt subject to restructuring. Approximately US$13 billion (2019)
Recent events
Reported
Odebrecht fined $50 million in Colombia[5]
Colombia's industry and commerce regulatory agency announced a $50 million fine against Odebrecht for implementing a system restricting free competition related to a highway contract. The agency said Odebrecht and local partners diverted contract resources to pay a $6.5 million bribe to a government official.
Reported
Colombian watchdog fines Grupo Aval over bribery scheme[4]
Colombia’s industry watchdog imposed a fine on Grupo Aval on December 28, citing bribery by its subsidiaries Corficolombiana and Episol together with Odebrecht in connection with the Ruta del Sol II project.
Sources5 sources
- 1Odebrechten.wikipedia.org
- 2Novonor official websitenovonor.com
- 3Odebrecht and Braskem plead guilty and agree to pay at least $3.5 billion in global penaltiesjustice.gov
- 4Colombian watchdog fines Grupo Aval over bribery schemecolombiareports.com
- 5Colombian watchdog fines Grupo Aval over bribery schemeibtimes.com
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